WOT 5-3-2008

May 3rd, 2008 by IrvineRenter 

Fix You -- Coldplay

Everyone either has or will be impacted by the housing bubble. It will be one of the defining events of our lifetimes. It changed lives.

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Posted in News

Silent Spring

May 2nd, 2008 by IrvineRenter 

Silent Scream -- Slayer

It doesn't look like we are going to have a bear rally this spring. The rate of price decline is accelerating, credit is still tightening, foreclosures are still increasing, job losses are mounting, mortgage interest rates are rising, inflation is rising, the economy is sputtering, and sales are still anemic. Did I forget anything?

Rachel Carson wrote Silent Spring in 1962 about the death of eagles caused by DDT. Who will write about our silent spring? Oh yeah, I did.

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Posted in Short Sale

Short

May 1st, 2008 by IrvineRenter 

Short People -- Randy Newman

Short sellers got no reason to hope. They got little houses, little pets, they go round borrowing great big debts. They got little kitchens, little stoves, granite counters; they are selling in droves. Don't want no short sales, don't want no short sales round here.

Today's featured property is a typical 100% financing deal gone bad. There are two types of distressed properties that have caused the 20%+ declines we have seen in the last year: 100% financing deals and HELOC abusers. We have profiled many of each type. They have set the stage for the next wave of foreclosures when all the ARMs begin to explode. We haven't begun to see the fallout from that problem yet.

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Posted in Short Sale
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